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Dec 29, 2012
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the amendment which had govern the a lot of u.s.-russian/soviet relations going back to the 1970s had to be replaced. it was replaced in congress by the act which set russia's worst human viets violators there should be consequences when it comes to getting visas. vladimir mute indecided to lash out to the united states by pointing a figurative rifle at the head of russia's orphans. >> we improve russia's trade relation with us, officially and then he gets upset because buried within there is a little clause that says, as you point out, the worst human rights violators should have trouble getting into the united states. how far should we go, throw, right? i brought this up last night and i'll bring it up again with you. in the united states we believe that people all over the world have certain rights regardless of geography, regardless of ethnicity, regardless of religion. they are inalienable and it is unfathomable to us that there are parts of the world where they don't believe that. it's amazing, but true. how far do we go in pu
the amendment which had govern the a lot of u.s.-russian/soviet relations going back to the 1970s had to be replaced. it was replaced in congress by the act which set russia's worst human viets violators there should be consequences when it comes to getting visas. vladimir mute indecided to lash out to the united states by pointing a figurative rifle at the head of russia's orphans. >> we improve russia's trade relation with us, officially and then he gets upset because buried within...
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Dec 28, 2012
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was a tremendous emotional response and the guns were banned and those people who owned them and the government knew where they were because they were all registered were required to hand them in even the target shooting olympic team was not allowed to keep guns in the country and they had to practice and keep their guns abroad, but nonetheless, within the decade of guns being withdrawn from these people gun crime with handguns actually doubled and guns are really are awash on the streets and there's a fair amount of street crime using handguns which there hadn't been much of before, and it's beyond which was something that traditionally they never were. so it hasn't worked and what it has done and it's taken the guns away from the law-abiding people that might have used them to protect themselves or to do something else with legitimately. >> what do you say to people who look at united states and say, wow! random mass murderers -- i heard it today. random mass murders in the united states where some whacko killed a bunch of people he doesn't know seems to happen every six months in the united
was a tremendous emotional response and the guns were banned and those people who owned them and the government knew where they were because they were all registered were required to hand them in even the target shooting olympic team was not allowed to keep guns in the country and they had to practice and keep their guns abroad, but nonetheless, within the decade of guns being withdrawn from these people gun crime with handguns actually doubled and guns are really are awash on the streets and...
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Dec 31, 2012
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and it'll chute shut down the government. it would be more draconian than what we are facing with the fiscal cliff. >> i was struck by not only the number of ceos that put pressure on washington, but ceos from some of the biggest companies in america to the small e69 companies in america. >> they were all in favor as a compromise, a tax hike as part after long-term debt solution. that's what has to happen. >>> we have two minutes before the president comes out. let me turn you to the top of the list, mark zuckerberg, why? eric, excuse me one second. we will go to ayman an john. we have some of the framework but the language here may be extremely important. what are we listening for? >> what i expect from the president is to try to keep the pressure on negotiators to get a deal. he will have middle class families around him. to some degree this is a pr event. it is possible and the republican aide i mentioned earlier who confirmed details on the agreement of middle class taxes said the president may mention that agreement in h
and it'll chute shut down the government. it would be more draconian than what we are facing with the fiscal cliff. >> i was struck by not only the number of ceos that put pressure on washington, but ceos from some of the biggest companies in america to the small e69 companies in america. >> they were all in favor as a compromise, a tax hike as part after long-term debt solution. that's what has to happen. >>> we have two minutes before the president comes out. let me turn...
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Dec 28, 2012
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that's why we have government. fix it. this is $100,000. we asked total strangers to watch it for us. thank you so much. i appreciate it. i'll be right back. they didn't take a dime. how much in fees does your bank take to watch your money? if your bank takes more money than a stranger, you need an ally. ally bank. your money needs an ally. >>> we call him dr. j. he's got a name. he made waves on the fast time money report because he's become an investor in nothing. >> for the first time in 31 years in the market i am completely out of everything. i see no reason to stick with this thing. no reason to get short either, but i think we've assured our self, judge, that we're going to get very small deals done and we virtually assured ourselves of getting our dent downgraded. >> matt is with virtual financial. anthony is with grg. do you agree with dr. j.? >> i would agree. we're starting to get sick and tired of what's going on down in washington. we're getting complacent about the fiscal cliff. people are for getting about just about everythi
that's why we have government. fix it. this is $100,000. we asked total strangers to watch it for us. thank you so much. i appreciate it. i'll be right back. they didn't take a dime. how much in fees does your bank take to watch your money? if your bank takes more money than a stranger, you need an ally. ally bank. your money needs an ally. >>> we call him dr. j. he's got a name. he made waves on the fast time money report because he's become an investor in nothing. >> for the...
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Dec 27, 2012
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a lot of the money that the low-end consumer has, they won't have anymore, and they won't have the government assistance programs to rely on. may not have the same effect we saw in the last recession. >> the ultimate consumer discretionary stocks, it occurs to me, dana, would be the luxury retailers like a tiffany which have suffered here recently. they in the past have been immune to a lot of vagaries of the consumer and the economy, but that hasn't been the case this time around. what happened? >> i think tiffany's a little bit different than some of the other luxury goods company. tiffany overall is working on its product, silver business which is a high margin category. didn't have enough novelty and newness in it and hopefully that's something they can fix for next year. >> wasn't just me then? >> not just you. >> exactly. >> i noticed that, yeah. >> dana on that point, the companies for stocks like tiffany's, what about aptitude in places like china in. >> overall when we see what's happening in china, so many new brands emerged in china, new companies on the luxury good fronts, and you
a lot of the money that the low-end consumer has, they won't have anymore, and they won't have the government assistance programs to rely on. may not have the same effect we saw in the last recession. >> the ultimate consumer discretionary stocks, it occurs to me, dana, would be the luxury retailers like a tiffany which have suffered here recently. they in the past have been immune to a lot of vagaries of the consumer and the economy, but that hasn't been the case this time around. what...
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Dec 28, 2012
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that is not the job of the government. the government's job is to raise taxes and to lower taxes when our economy needs it. that's what the senate does. john breaux, former senator john breaux from louisiana sat on the floor during the 2001 tax bill and said our job is to raise taxes when they need to be raised and lower them when they need to be lowered. that's the senate and the house's job. >> but, one man's -- is another man's -- if you look at the laugher curve you don't know when to raise and when to lower at this point. >> president obama kept bush's taxes in for two years. >> i know. >> but suddenly, you know, democrats like you love the 98%, and you hate the 2%. it's very weird. >> tell him, joe. >> don't hate the 2%. i'm not a self-loathing hater. i don't hate the 2%. >> hey, joe, before we go, you mentioned -- you heard jimmy talking about the decider. that made me think of 4-3. but my heart and mind are with 41 and you worked for him. do you know anything? >> nothing new. we're just keeping him in our prayers.
that is not the job of the government. the government's job is to raise taxes and to lower taxes when our economy needs it. that's what the senate does. john breaux, former senator john breaux from louisiana sat on the floor during the 2001 tax bill and said our job is to raise taxes when they need to be raised and lower them when they need to be lowered. that's the senate and the house's job. >> but, one man's -- is another man's -- if you look at the laugher curve you don't know when to...
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Dec 27, 2012
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government. >> so true. we also can look at the difference and say, well, maybe holiday discretionary spending wasn't as strong, but retail spending generally held up okay. maybe not the best sign tore some of the retailers, back up not a reason to completely lose faith in the u.s. consumer. we should point out this disparity we've seen where capital spending, goods for new capital orders have been weak and retail sales have been relatively strong. labor income has held up okay. frankly, when you look at 2013, the outlook for that to continue looks recently good. >> well, sure. and the other thing we'll look forward to is the number on jobless claims. they were back to their prehurricane level suggesting that the labor market hasn't fallen out of bed. there will be an interesting announcement coming out of the irs sometime between now and the end of the year which will be very important. they're going to give guidance to employers on what will be the tax withholding rates for 2013. under the laws, those with
government. >> so true. we also can look at the difference and say, well, maybe holiday discretionary spending wasn't as strong, but retail spending generally held up okay. maybe not the best sign tore some of the retailers, back up not a reason to completely lose faith in the u.s. consumer. we should point out this disparity we've seen where capital spending, goods for new capital orders have been weak and retail sales have been relatively strong. labor income has held up okay. frankly,...
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Dec 28, 2012
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we put the government on hiatus in terms of spending money but we've always gotten through it. to me that is not the seminole issue. if that is i'm happy to be on the other side of the trade. >> i wasn't saying it is an actual issue. i said it was surprised at the degree to which corporate leaders are saying that that is a big deal. in other words to me to -- >> that pales in every interview i've heard, on cnbc, that paels in comparison. it is an after thought relative to getting the budget situation and tax situation set. that has only come on as an issue recently. you talk about pent up demand for the market over the last month. pent up demand has been in corporations spending their 2 trillion in cash over the last year in advance of settling this situation not the debt ceiling. >> let me also say mike before we let you go just to revisit the to revisit the trade you brought last week which was a winner tan that was long tlt, going long treasuries, that still work for you? >> well it still works i think as long as the process gets dragged out. what the bond market is not goin
we put the government on hiatus in terms of spending money but we've always gotten through it. to me that is not the seminole issue. if that is i'm happy to be on the other side of the trade. >> i wasn't saying it is an actual issue. i said it was surprised at the degree to which corporate leaders are saying that that is a big deal. in other words to me to -- >> that pales in every interview i've heard, on cnbc, that paels in comparison. it is an after thought relative to getting...
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Dec 31, 2012
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that's what the government does. get government off our backs and this economy could take off. >> senator, thank you. we'll see. >> the packers. >> still? >> absolutely. >> -- through washington. >> that's what i'm saying. i was rooting for the redskins last night. that was a fun game to watch. >> becky, did you notice, where did we get -- took us that long to find a song called rise above? did you hear that song. >> we did hear that at the beginning. i was talking about spider-man, they sing it through spider-man on broadway. that was a different version. >> can we commission that song? or did that exist in senate? >> it's actually me singing the backup. no! >> i wondered because it sounded like sorkin was the reggae thing. weren't you just in jamaica? >> i was in jamaica. we recorded that while we were down there. >> this is where we come together. we're not allowed to play any beatles stuff. >> we're not? >> no. ixnay on the beatles. >> now i have the kangaroo song stuck in my head. >> why did i think of that? but
that's what the government does. get government off our backs and this economy could take off. >> senator, thank you. we'll see. >> the packers. >> still? >> absolutely. >> -- through washington. >> that's what i'm saying. i was rooting for the redskins last night. that was a fun game to watch. >> becky, did you notice, where did we get -- took us that long to find a song called rise above? did you hear that song. >> we did hear that at the...
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Dec 26, 2012
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the reductions in spending over time can happen over time, the way our government keeps track is over a decade. >> right. >> so we don't need to do it all today, and as far as higher taxes go, there's a group of people who will sign this pledge not to raise taxes, and, you know, more than two-thirds are millionaires who said, you know what, we'll pay more taxes because in the end analysis, the investment we would make in paying more in taxes to get the economy going will return in wealth very quickly if we get the economy back to where it should be. >> there's a very good article on cnbc.com about the possibility that congress might decide to start tax is employer-sponsored health insurance. do you think that's a possibility, and what impact would that have on you? >> everything needs to be on the table. if we're going to have a good solution that gets at our deficit and reduce our debt everything has to be on the table and we'll deal with it. it's great to have rules. we just like to know what they are so we can make the right investments moving forward. >> even if it puts us in a cl
the reductions in spending over time can happen over time, the way our government keeps track is over a decade. >> right. >> so we don't need to do it all today, and as far as higher taxes go, there's a group of people who will sign this pledge not to raise taxes, and, you know, more than two-thirds are millionaires who said, you know what, we'll pay more taxes because in the end analysis, the investment we would make in paying more in taxes to get the economy going will return in...
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Dec 26, 2012
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that's why we have government. fix it. a raise your rate cd. tonight our guest, thomas sargent. nobel laureate in economics, and one of the most cited economists in the world. professor sargent, can you tell me what cd rates will be in two years? no. if he can't, no one can. that's why ally has a raise your rate cd. ally bank. your money needs an ally. >>> as the holiday season comes to a close, the early numbers suggest that what started out strong is now ending in a whimper. mastercard spending cost unit estimates that sales rose 0.7% over the past two months compared to a year ago, which would be the weakest pace of annual growth since 2008, at the height of the financial crisis. earlier this morning, cnbc spoke with michael mcnamara from mastercard. >> beginning of december when we start to see sales come down, the confidence numbers also start to come down. it's something that the media coverage really has brought home and really clarified what the fiscal cliff means to personal finance. that debate really seems to be acting, it's almost creating a sense of gravity that's p
that's why we have government. fix it. a raise your rate cd. tonight our guest, thomas sargent. nobel laureate in economics, and one of the most cited economists in the world. professor sargent, can you tell me what cd rates will be in two years? no. if he can't, no one can. that's why ally has a raise your rate cd. ally bank. your money needs an ally. >>> as the holiday season comes to a close, the early numbers suggest that what started out strong is now ending in a whimper....
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Dec 27, 2012
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but the government is 90% of the market. if you look at firms like ours we basically do ginnie mae and nonconfirming production. we'll do maybe a couple billion dollars this year. that's a drop in the bucket. this is still completely a government market. >> i asked john this question earlier, talking about some of the regulations from dodd-frank which haven't come into effect yet. of the 200 plus that are not on the books, what's the one or two that you're looking at that you think are a game changer. >> in terms of what? >> that may ultimately change some of the derivative stuff, what you think the impact of both -- >> we've talked about this. volcker has taken a lot of liquidity out of the market just in terms of -- >> but none of this is on the books. nobody's actually -- it's not there yet. >> the behavioral changes have already come because the lawyers have told the banks you have to live with the volcker rule. they've already done it. my big fear, though, is that the conservatives are trying to winnow down fannie, fred
but the government is 90% of the market. if you look at firms like ours we basically do ginnie mae and nonconfirming production. we'll do maybe a couple billion dollars this year. that's a drop in the bucket. this is still completely a government market. >> i asked john this question earlier, talking about some of the regulations from dodd-frank which haven't come into effect yet. of the 200 plus that are not on the books, what's the one or two that you're looking at that you think are a...
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Dec 28, 2012
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the government doesn't seem to care. we established the original rules, the upparticular rules, to stop the formenting panic. something that happened in the great depression. the government seems to think panics are no longer possible. actually, we know they are more prevalent than ever. we have to be careful not to succumb to panics who are orchestrated by short sellers. much easier to panic people in a financial than a regular business that doesn't involve credit. without those protections, the shorts were able to run wild and pratt particularly assassinate the stocks during the crash of 2008, until in 2009, the bulls were back in control. in 2011, using weapons of mass stock destruction. dealing with a heavily shorted stock in one of the s, like the financials, we leashed you have to tread very carefully. you can still find great opportunities in stocks where shorts have overreached and insiders are buying, before going into situations, i got to warn you that the balance of power has shifted against you in recent year
the government doesn't seem to care. we established the original rules, the upparticular rules, to stop the formenting panic. something that happened in the great depression. the government seems to think panics are no longer possible. actually, we know they are more prevalent than ever. we have to be careful not to succumb to panics who are orchestrated by short sellers. much easier to panic people in a financial than a regular business that doesn't involve credit. without those protections,...
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Dec 28, 2012
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government bonds still have a role. government bonds with credit on top if you like. so we were one of the first private banks to buy ultra long corporate bonds normally held by pension funds reflecting the fact that you have above average risk premiums and potential risk correlation. so that's attractive. an area that's really suffered, ctas. >> ctas? >> ctas really suffered. >> what are ctas? >> commodity trading advisers is what they're short of. it's a style of hedge fund management and it did very well in '08 and '01 or '2. they've struggled for a couple of years. but still importantly they still have a negative correlation. >> i'm just wondering what happens with the cliff impact on gold. you know, if we find the cliff solution, if we find a mediocre solution, if we find no solution, are we going to see a huge swing in the price of gold? >> well, gold has a safe haven role. it has had a safe haven role just like other assets that you mentioned that could be hemgs against equity movements such as these safe haven bonds such as german ones, u.s. ones, maybe japane
government bonds still have a role. government bonds with credit on top if you like. so we were one of the first private banks to buy ultra long corporate bonds normally held by pension funds reflecting the fact that you have above average risk premiums and potential risk correlation. so that's attractive. an area that's really suffered, ctas. >> ctas? >> ctas really suffered. >> what are ctas? >> commodity trading advisers is what they're short of. it's a style of hedge...
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Dec 26, 2012
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there's been a lot of issues around the government. i think the instakt around the government and people's predicting how long it will take to push back reforms has impacted the market quite a bit. i think one thing under the surface in india and china that all investors need to be aware of is the fact that corporate debt is now really building up to almost unhealthy levels. and i would keep an eye on where corporate debt levels are in companies investing in. >> when i was a corporate analyst in india tracking markets, technology was considered the engine of growth for the country and one of the bright spots for the market. is technology still one of the areas you are tell clients to invest in in india, or what are the sectors you're looking at? >> i think there's two sectors whether you look at india, china, or asia. there's two sectors we like. it's technology, as you said. i think that's one that -- it's a bright gem. you know, it went from, in india, from a bpo outsourcing business and has grown to an innovation business where bran
there's been a lot of issues around the government. i think the instakt around the government and people's predicting how long it will take to push back reforms has impacted the market quite a bit. i think one thing under the surface in india and china that all investors need to be aware of is the fact that corporate debt is now really building up to almost unhealthy levels. and i would keep an eye on where corporate debt levels are in companies investing in. >> when i was a corporate...
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Dec 26, 2012
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the government, easy. let's put it off. it's not their money. they don't feel the same intensity handicapping whether something should continue or not. these are things we need to grapple with. if we just have rigid ideologicallies, under no condition go over the cliff we become another aspect of the propaganda i'm so sick of that reached its crescendo at midnight november 5th. >> the way i think future generations, if i were to write an economics book, the way that fracking and horizontal drilling, we start with, you know, the notion we're running out of oil, it's going to be gone, we need the government to create the next energy industry. we will spend all this money on these renewable things. it will be great. we know how to do it, we have experts. then a disruptive market driven technology comes along that generates $2 natural gas makes all that stuff or basically puts it into the future and the money just went down the drain. a case study the way dwogovernm planning and infrastructure spending, you will get 10 cents of every dollar you spen
the government, easy. let's put it off. it's not their money. they don't feel the same intensity handicapping whether something should continue or not. these are things we need to grapple with. if we just have rigid ideologicallies, under no condition go over the cliff we become another aspect of the propaganda i'm so sick of that reached its crescendo at midnight november 5th. >> the way i think future generations, if i were to write an economics book, the way that fracking and...
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Dec 27, 2012
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government would not pay interest on its debts. have -- you know perfectly well will is about a million things. i have been in the country where they ran out of borrowing capacity and managed important several years to survive without that borrowing capacity. there's a million things you can do before. you don't pay your debt on the u.s. treasuries before you stop paying social security, before you do lots of other things. is he purposefully trying to elevate this to a situation that frightens people? >> in many ways -- this is like the mayan calendar. they said the world would end december 21. we are all still here. the fiscal cliff negotiations and the debts limit thing are not the end of the world and we will figure it out. the most important thing to keep in mind is long term. we want to have a healthy fiscal situation. we have to have a healthy economy. we have to address growth. here's something else that is -- totally missing from this conversation. >> jimmy? >> understand that the executive branch is required under federal
government would not pay interest on its debts. have -- you know perfectly well will is about a million things. i have been in the country where they ran out of borrowing capacity and managed important several years to survive without that borrowing capacity. there's a million things you can do before. you don't pay your debt on the u.s. treasuries before you stop paying social security, before you do lots of other things. is he purposefully trying to elevate this to a situation that frightens...
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Dec 31, 2012
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the debt ceiling is simply a decision by the united states government to pay its debts. i am very troubled by the fact that that came into play. there are legitimate concerns about what level of taxation we should have, how much military spending there should be, should we reduce medicare. but whether or not we should pay or debts ought not to be a political issue. and hold the reputation for america as someplace that pays its debts hostage is a terrible idea. i'm hoping this will be a good precedent for getting the debt limit issue out of the way. and then there will be legitimate public policy debates about how much and what kind of spending cuts. >> congressman, this is dan greenhaus. let me say, you're hilarious and i'm going to miss you. jonathan tweeted, obama has utterly caved on taxes and inviting future hostage tactics by the gop. does that sound right to you? >> no. in the first place, he has insisted on raising taxes, letting taxes go up, is what we're doing, for people above a certain income level. he does not control the house of representatives. part of thi
the debt ceiling is simply a decision by the united states government to pay its debts. i am very troubled by the fact that that came into play. there are legitimate concerns about what level of taxation we should have, how much military spending there should be, should we reduce medicare. but whether or not we should pay or debts ought not to be a political issue. and hold the reputation for america as someplace that pays its debts hostage is a terrible idea. i'm hoping this will be a good...
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Dec 26, 2012
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you have to remember, a government has a hard time strengthening its currency, but governments can very easily weaken their currencies, simply by printing them and when the japanese said they are going to print them in an unlimited fashion, you have to believe them. >> also, the other difference here between japan and what's going on for instance here in the united states is that in japan, there are still positive real rates so the bank of japan has the freedom and the leeway to really impact what's going on with the yen. >> well, they've made it clear that that's what they intend to do. they're going to take rates to negative numbers over there, mel, before it's done. they have choice and that's what's going to end up happening. they have the exporters with them, at their back, to help them along the line. and you have, i think, a failing demographic circumstances. there's nothing they can do to help the economy itself, other than to help exports. there's nothing they're going to do to help the consumers, who are falling in numbers. they have to continue to export goods and services ou
you have to remember, a government has a hard time strengthening its currency, but governments can very easily weaken their currencies, simply by printing them and when the japanese said they are going to print them in an unlimited fashion, you have to believe them. >> also, the other difference here between japan and what's going on for instance here in the united states is that in japan, there are still positive real rates so the bank of japan has the freedom and the leeway to really...
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Dec 27, 2012
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we fall off the cliff, the fear is that we fall off the cliff, not slowly glide down the cliffch the government at this point needs to understand that we should be able to trust you to do the right thing, put politics aside and think about us, the people that's why we have government. fix it. [ male announcer ] at scottrade, you won't just find us online, you'll also find us in person, with dedicated support teams at over 500 branches nationwide. so when you call or visit, you can ask for a name you know. because personal service starts with a real person. [ rodger ] at scottrade, seven dollar trades are just the start. our support teams are nearby, ready to help. it's no wonder so many investors are saying... [ all ] i'm with scottrade. it's no wonder so many investors are saying... you know it even after all these years. but your erectile dysfunction - you know,that could be a question of blood flow. cialis tadalafil for daily use helps you be ready anytime the moment's right. you can be more confident in your ability to be ready. and the same cialis is the only daily ed tablet approved to tr
we fall off the cliff, the fear is that we fall off the cliff, not slowly glide down the cliffch the government at this point needs to understand that we should be able to trust you to do the right thing, put politics aside and think about us, the people that's why we have government. fix it. [ male announcer ] at scottrade, you won't just find us online, you'll also find us in person, with dedicated support teams at over 500 branches nationwide. so when you call or visit, you can ask for a...
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Dec 28, 2012
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you have forest service, 30% of the land is owned by the federal government. so there's a lot of federal dollars that come to montana. that's part of the system. >> what would be the economic impact, going back to what the farmer was telling us about the situation, if estate taxes go up 55%. we're going to see farmers cutting back on the size of their farms, some may even go out of business. what's the economic impact and how can you mitigate that, governor? >> the difficulty here is over the long-term. naturally, sometime during january if we go over the cliff which is more of a hill, these congressmen will come to their senses. they've gone completely crazy and apparently if you vote for something on december tlonl, then it's okay with grover nor quist and if it's after december 31st, it's something else. look, a pledge is one thing, but look right now we've been spending money on a credit card nationally for the last ten years without paying for it. both parties have been doing it. it's time to pay down. spend less and we have to raise more money. >> that's
you have forest service, 30% of the land is owned by the federal government. so there's a lot of federal dollars that come to montana. that's part of the system. >> what would be the economic impact, going back to what the farmer was telling us about the situation, if estate taxes go up 55%. we're going to see farmers cutting back on the size of their farms, some may even go out of business. what's the economic impact and how can you mitigate that, governor? >> the difficulty here...
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Dec 26, 2012
12/12
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that's why we have to slash government spending. the nation is broke. >> but peter, peter, michael farr, while we need this reduction in spending and i'm totally with you, we don't need this ham-handed kind of blunt instrument approach to figuring out the solutions to these problems. i mean, these guys have had all the time in the world to come up with the simpson-bowles and they just refuse to take responsible action. >> but they're not going to do that. it's funny, people talk about we need a solution that avoids the fiscal cliff but that solves our long-term problems. these things are mutually exclusive. we can't solve our problems without going over a cliff. the problem is the cliff is too small to actually solve the problem. it needs to be much bigger. [ speaking simultaneously ] >> how much confidence would, let's say we go over the cliff and we cut spending, we raise taxes, and the fiscal situation, albeit through a short recession, helps the fiscal long-term situation of america. how much confidence could that add to many pe
that's why we have to slash government spending. the nation is broke. >> but peter, peter, michael farr, while we need this reduction in spending and i'm totally with you, we don't need this ham-handed kind of blunt instrument approach to figuring out the solutions to these problems. i mean, these guys have had all the time in the world to come up with the simpson-bowles and they just refuse to take responsible action. >> but they're not going to do that. it's funny, people talk...
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Dec 27, 2012
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to think that the government, federal government certainly was closed on monday and tuesday, some of the state government was closed for both days, one of those days as well, saying maybe it came in a little bit light. some interpretation but funny to see all the headlines crossing this morning saying the futures were moving based on claims or the treasuries based on claims numbers and not what was going on on the fiscal cliff. >> a crummy start to the year we get a fourth strike on top of all that, true. >> not such a crummy year for japan. japanese stocks rallying you can the yen continuing its slide against the dollar in all the major currencies, in fact. asian markets mixed overnight trading. the nikkei climbing to a closing level not seen since just before the march 2011 earthquake, marking a third day of gains, mostly drive bine hopes for a new stimulus policy. the yen is sitting closes to the lowest level since september 2010 against the dollar. interesting here because now a lot of people are saying the best or the hottest trade in 2013 will, in fact, be long japanese stocks
to think that the government, federal government certainly was closed on monday and tuesday, some of the state government was closed for both days, one of those days as well, saying maybe it came in a little bit light. some interpretation but funny to see all the headlines crossing this morning saying the futures were moving based on claims or the treasuries based on claims numbers and not what was going on on the fiscal cliff. >> a crummy start to the year we get a fourth strike on top...
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Dec 28, 2012
12/12
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government, possibly s&p one more notch. it's not going over the cliff but the government can't come up with a real decision. i do, by the way, think there will be some kind of agreement over the weekend as your previous reporter said. i think it will be a light weight deal. the biggest thing, brian, is we get to do this in another 60 to 90 days with the debt ceiling. we have a lot of problems and issues but we can't seem to agree on much. >> craig, should we go over the fiscal cliff? >> well, brian, it's not an ideal situation. certainly i think if you could have both sides of the aisle rise above, as you guys have said, and come to some kind of a balanced deal, it would be great. given the alternatives right now, it's not that bad of a deal because if you look long term, the government spending has been about 20% of gdp. today that's 25%. revenues have been 18% of gdp. today that's 15.4%. it's both a spending issue and a revenue issue. so at least the cliff resolves the revenue issue. certainly it does it more than we need
government, possibly s&p one more notch. it's not going over the cliff but the government can't come up with a real decision. i do, by the way, think there will be some kind of agreement over the weekend as your previous reporter said. i think it will be a light weight deal. the biggest thing, brian, is we get to do this in another 60 to 90 days with the debt ceiling. we have a lot of problems and issues but we can't seem to agree on much. >> craig, should we go over the fiscal cliff?...
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Dec 24, 2012
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>> well, this is a disaster for state and local units of government. the first order of effect is that the cost of infrastructure becomes much, much higher. costs of financing go up. the availability of investors declines. interest rates rise for municipal issuers. and so what happens to all that higher tax-exempt interest cost that issuers have to bear? it's ultimately borne by the taxpayer themselves. so really, this is just a transference of the taxes and subsidy back onto the shoulders of the regular property tax and income taxpayer at the local level. >> wow. a lot to keep track of. chris, thanks for giving us your thoughts this morning. >> thank yhankery much. >>> gas prices at the lowest level we've seen in more than a year. what does 2013 hold for energy. find out after the break. [ male announcer ] how do you trade? with scottrader streaming quotes, any way you want. fully customize it for your trading process -- from thought to trade, on every screen. and all in real time. which makes it just like having your own trading floor, right at your
>> well, this is a disaster for state and local units of government. the first order of effect is that the cost of infrastructure becomes much, much higher. costs of financing go up. the availability of investors declines. interest rates rise for municipal issuers. and so what happens to all that higher tax-exempt interest cost that issuers have to bear? it's ultimately borne by the taxpayer themselves. so really, this is just a transference of the taxes and subsidy back onto the...
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Dec 24, 2012
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stay way from government bonds that mature more than five years out and your 401(k) plans, get out of all of your bond funds, equities will rise in 2013. even though the economy is in a terrible position, stocks will rise, bonds will fall in value. stay away from bonds. >> all right, we will watch that. bob, jump in and tell us about the action on the street. down 51 point at close. was that the low, bob? >> no, not quite. we were just a little bit lower than -- take a look the a dow and i will show you. by the way, bonds collapse was the big call of 2012, and spectacularly wrong for a lot of people. but that's still on for a lot of people. there you see, just off of the lows there. maybe about 60-something is the bottom on the dow jones investment average. trading shortened by the holiday. material stocks led the way and of course some other stocks, consumer discretion is up. retailers add good day. crude was down. tech was down. microsoft had a tough day. there is concerns about sales of that windows 8 product. hewlett-packard on a down day. research a bit on the thin side. tjx, gap
stay way from government bonds that mature more than five years out and your 401(k) plans, get out of all of your bond funds, equities will rise in 2013. even though the economy is in a terrible position, stocks will rise, bonds will fall in value. stay away from bonds. >> all right, we will watch that. bob, jump in and tell us about the action on the street. down 51 point at close. was that the low, bob? >> no, not quite. we were just a little bit lower than -- take a look the a...
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Dec 26, 2012
12/12
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government, i take that back, only can government, period, including the u.s. government turn a detour into a four-lane highway, okay? let's talk about infusion. governments tried to create faux guarantees when they set up the gses when they created the structure of special financing and faux guarantees whether they were applied or assumed, we all know how it turned out. taxpayers ended up getting the bill when government took over the space. and then we get all the faux guarantees of fixing the original faux guarantees as the intrusion really did get worse. i take you back to september of 2008 when the gses were put in the conservatorship and then treasury secretary paulson said the following quote. i attribute the need for today's action, talking about conservatorship, primarily to the inherent conflict and flawed business model embedded in the gse government sponsored enterprise structure and to the ongoing housing correction. well, first of all, how many experts have we had on lately that have said housing is doing much better. today's kate shiler seems to
government, i take that back, only can government, period, including the u.s. government turn a detour into a four-lane highway, okay? let's talk about infusion. governments tried to create faux guarantees when they set up the gses when they created the structure of special financing and faux guarantees whether they were applied or assumed, we all know how it turned out. taxpayers ended up getting the bill when government took over the space. and then we get all the faux guarantees of fixing...
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Dec 28, 2012
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we have debt that's being issued by governments, by corporations. will we need a capital markets business? even though the capital markets businesses aren't beating their cost of capital right now what we're seeing is we're seeing compensation levels coming down, increasing the margins in it. we're seeing inventory levels come in. that means that the amount of capital that they're putting, that they have there is dropping, which of course would be an improvement in roes. all of this leads to a world of sort of a repricing of the capital markets. wider bid offers treads, less tratding volume, less risk taken but will there be a capital markets business? the answer is yes. unfortunately right now the issue we have is the fiscal cliff which makes everything uncertain at least through march. a lot of washington circus going on. we, you know, i think it's pretty reasonable to assume that no politician, no libertarian would ever want the u.s. to default on its debt. so by march we should have a solution to that. then what we are is we're back in an enviro
we have debt that's being issued by governments, by corporations. will we need a capital markets business? even though the capital markets businesses aren't beating their cost of capital right now what we're seeing is we're seeing compensation levels coming down, increasing the margins in it. we're seeing inventory levels come in. that means that the amount of capital that they're putting, that they have there is dropping, which of course would be an improvement in roes. all of this leads to a...